I agree, I went on an ACCA audit orientation course 4 years ago and as part of this course the lecturer asked what was the major threat to ACCA practices. The answers back were "non -qualified accountants". He disagreed and said these would come and go but the major threat was banks and large PLC's.

Banks have been setting their systems up now for about 5 years and with online banking, the next step is an automatic cash accounting set of accounts. Now switch your thinking to some of our beloved governments strategies over the last couple of years and you may recall that they now are looking at considering small business to file accounts and tax returns on a cash basis.

Join the 2 together and you could speculate and say there is a connection!

For me the next horror would be "tesco accountants" in every shop. Do your tax return while you shop.

The nub of the matter is that with Cloud Accounting on the rise production of accounts will be increasingly commoditised and the banks will be interested in employing accountants who will then produce a few hundred sets of cash accounts a year each. At £500 per accounts, this will yield very well for the bank.

We need to develop higher value services for more complex needs folks!